South African government urges creditors to support SAA rescue plan

24th June 2020 By: Reuters

South African government urges creditors to support SAA rescue plan

South Africa's public enterprises ministry on Wednesday urged creditors to vote in support of a rescue plan for cash-strapped South African Airways (SAA).

Creditors are due to vote on the plan, which was published by the state-owned airline's administrators last week, on Thursday.

The Department of Public Enterprises (DPE) said in a statement: "DPE believes the ​approval of the business rescue plan ​would help creditors and employees to be co-creators of a new airline."